logo
Here Are Trump's New Tariff Threats

Here Are Trump's New Tariff Threats

New York Times5 days ago
President Trump informed Japan, South Korea and five other nations on Monday that they will face significantly higher tariff rates starting Aug. 1 unless they can broker new trade deals imminently with the United States.
The newly announced rates, communicated in letters to those nations' leaders and posted on social media, marked a revival of Mr. Trump's trade brinkmanship, with additional threats targeting other nations expected throughout the week.
The new tariff rates essentially replace the sky-high duties that the president announced in April. At the time, Mr. Trump quickly paused his so-called reciprocal levies for 90 days, mostly so his administration could broker favorable trade agreements around the globe.
But the White House has made minimal progress on what an official once described as a campaign to strike '90 deals in 90 days,' with the deadline set to lapse on Wednesday.
To buy more time, Mr. Trump is expected to sign an executive order on Monday that extends his initial pause, while sending notes to countries informing them of the new rates that they must start paying next month.
His initial battery of letters went to Japan, South Korea, Malaysia, South Africa, Kazakhstan, Laos and Myanmar. Both Japan and South Korea, which each represent about 4 percent of U.S. imports, face 25 percent tariffs on Aug. 1. Myanmar, which accounts for only a tiny fraction of goods imported into the United States, faces a newly announced tariff of 40 percent.
Mr. Trump also threatened to raise tariff rates even higher if any of the countries seek to retaliate with import taxes of their own or try to evade the U.S. duties by shipping through other nations.
In the coming days, the White House is expected to send additional letters to other countries, some of which will be subject to the tariffs outlined by the president in April.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Mexico Is in Talks to Avoid Trump's Latest Tariff Threat
Mexico Is in Talks to Avoid Trump's Latest Tariff Threat

Yahoo

time34 minutes ago

  • Yahoo

Mexico Is in Talks to Avoid Trump's Latest Tariff Threat

(Bloomberg) -- Mexico is negotiating with the US to avoid a set of 30% tariffs that President Donald Trump has threatened to impose on the Latin American country starting on Aug. 1. Singer Akon's Failed Futuristic City in Senegal Ends Up a $1 Billion Resort Why Did Cars Get So Hard to See Out Of? Can Americans Just Stop Building New Highways? How German Cities Are Rethinking Women's Safety — With Taxis Philadelphia Trash Piles Up as Garbage Workers' Strike Drags On Mexico and the US established a new binational working group on Friday to address security, migration and economic issues, according to a statement posted on Saturday by Mexican Economy Minister Marcelo Ebrard on X. The first major task of the group will be to find an alternative to the tariffs and 'protect jobs on both sides of the border,' the statement read. 'We told the group that this treatment is unfair and that we're not in agreement,' read the statement, jointly signed by the Economy and the Foreign Affairs Ministries. Trump published his latest tariff threats early Saturday, saying Mexico would be subject to the 30% rate for not doing enough to fight fentanyl trafficking, even though the country has made strides in helping secure the border with the US. The U.S. doesn't intend to apply the 30% rate to USMCA-compliant goods, according to a White House official. The situation remains fluid, the official cautioned. The administration has previously said it will keep the exemption for Canada. Continuing the exclusion for both Mexico and Canada narrows the scope of Trump's continental tariffs and would be a lifeline to sectors like the auto industry that rely heavily on the USMCA pact — which was renegotiated under Trump's first term. The US president said the 30% tariffs are separate from sectoral ones and could be raised if Mexico retaliates. 'Mexico still has not stopped the Cartels who are trying to turn all of North America into a Narco-Trafficking Playground,' Trump wrote. ' If Mexico is successful in challenging the Cartels and stopping the flow of Fentanyl, we will consider an adjustment to this letter.' He said Mexico has many other non-tariff trade barriers that have created an 'unsustainable' trade deficit with the US. Trump's Cuts Are Making Federal Data Disappear 'Our Goal Is to Get Their Money': Inside a Firm Charged With Scamming Writers for Millions Will Trade War Make South India the Next Manufacturing Hub? Soccer Players Are Being Seriously Overworked Trade War? No Problem—If You Run a Trade School ©2025 Bloomberg L.P.

Donald Trump threatens to revoke longtime foe Rosie O'Donnell's U.S. citizenship
Donald Trump threatens to revoke longtime foe Rosie O'Donnell's U.S. citizenship

USA Today

time34 minutes ago

  • USA Today

Donald Trump threatens to revoke longtime foe Rosie O'Donnell's U.S. citizenship

President Donald Trump unleashed on his longtime foe Rosie O'Donnell, threatening to revoke the left-leaning comedian's U.S. citizenship. In a Truth Social post July 12, Trump said that "because of the fact that Rosie O'Donnell is not in the best interests of our Great Country, I am giving serious consideration to taking away her Citizenship." "She is a Threat to Humanity, and should remain in the wonderful Country of Ireland, if they want her. GOD BLESS AMERICA!" Trump wrote. A rep for O'Donnell directed USA TODAY to her client's statement on Instagram, saying that "nothing else will be said." In March, the infamous former "View" co-host revealed her recent move to Ireland and told fans the political climate following Trump's election inspired her relocation, which took place Jan. 15. "It's been heartbreaking to see what's happening politically and hard for me personally as well," O'Donnell said. "The personal is political, as we all know," adding that "now as we're getting settled, I was ready to post this and to tell everybody what's been going on." O'Donnell and Trump's feud date back to her days on the panel of ABC's "The View," which she co-hosted from 2006 to 2007 and again from 2014 to 2015 before he was elected president. Rosie O'Donnell moves to Ireland amid Trump presidency: 'The personal is political' In her July 12 statement on Instagram, O'Donnell posted a picture of Trump and convicted pedophile Jeffrey Epstein, asking if he is "rattled again? 18 years later and I still live rent-free in that collapsing brain of yours." Epstein, the convicted child sex offender and disgraced multimillionaire financier, died in 2019 and his death is the source of long-standing conspiracy theories and controversy. "You call me a threat to humanity – but I'm everything you fear: a loud woman a queer woman a mother who tells the truth an american who got out of the country b4 u set it ablaze," O'Donnell said in her statement. "You build walls – I build a life for my autistic kid in a country where decency still exists." She added: "You crave loyalty – I teach my children to question power. You sell fear on golf courses – I make art about surviving trauma. You lie, you steal, you degrade – I nurture, I create, I persist." In her open letter to Trump, O'Donnell wrote that "you are everything that is wrong with america – and I'm everything you hate about what's still right with it." "You want to revoke my citizenship? go ahead and try, king joffrey with a tangerine spray tan. i'm not yours to silence i never was," O'Donnell concluded. Later in March, in another lengthy TikTok video, Donnell said she felt "healthier (and) I'm sleeping better without the stress and anxiety over what was happening politically in the country," and because she is not being "singled out by the President of the United States." Contributing: Edward Segarra

How the TACO trade could end up backfiring on investors
How the TACO trade could end up backfiring on investors

Yahoo

time35 minutes ago

  • Yahoo

How the TACO trade could end up backfiring on investors

Investors have come to see Trump's more extreme trade policies as bluffs. But without financial markets to check Trump, will the trade backfire? GMO's Ben Inker says a weak reaction to tariffs could embolden Trump. Buying the dip during recent tariff volatility has been a profitable strategy this year, but will the so-called TACO trade backfire on bullish investors confident that the president will always back down? It didn't take long for investors to figure out that Trump doesn't always mean what he says when it comes to trade policy. The TACO trade — short for "Trump always chickens out," a phrase coined by the Financial Times' Robert Armstrong to describe Trump's habit of backing away from proposals that roil markets— has emerged as a result. Investors have started not to take Trump so seriously, believing his more extreme policy proposals, like blanket tariffs or firing the Chairman of the Federal Reserve, are just a bluff. But Ben Inker, the co-head of asset allocation at GMO, argues that this approach may backfire. Markets have acted as a check on Trump this year. The president paused tariffs in April after historic sell-offs in both stocks and bonds, and he's backed down from ideas like firing Jerome Powell as Fed chief after markets balked at the prospect. Now, with investors seemingly less willing to sell after every bold proposal Trump makes, he may have little incentive to back off from his trade war, which he has ramped up again this week. The president fired off letters throughout the week that included threats of 25% tariffs on Japan and South Korea, 50% tariffs on Brazil, and 35% on Canada. Stocks dipped on Friday as Trump re-escalated the trade war, but it was nothing like the sell-off in April, despite some tariffs announced in the week being steeper than expected. "What we're seeing today is Trump being much more aggressive," Inker said. He said that Trump's recent announcement of 50% tariffs on Brazil is "an aggressive stance that sort of presumes you can do whatever you want, which is quite different from what we saw with the backdown from the Liberation Day tariffs when the bond market started going crazy," Inker said. "In the absence of the financial markets telling him to back off, he won't back off," he added. Investors lately haven't been pricing in downside risks. The S&P 500 and the Nasdaq hit all-time highs on Thursday, and valuations are high Inker said that the benchmark index is probably close to 40% overvalued. "The US stock market looks quite expensive. Not as expensive as it was in 2000, but expensive relative to just about any other point in history," Inker said. "And its valuation to the rest of the world is basically at an all-time high." The most attractive opportunities within stocks at the moment are deep value stocks and developed-market stocks outside of the US, Inker said. Read the original article on Business Insider Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store